Business · Trade · 12 hrs ago

Hainan handles first bonded aviation fuel shipment tested to international standards

Hainan handles first bonded aviation fuel shipment tested to international standards

A ship carrying 32,500 tonnes of overseas aviation fuel docked in Yangpu, Hainan, on November 13.

Customs inspected the fuel using international standards, in the first such bonded aviation fuel operation in Hainan.

The arrangement covers fuel brought from abroad into bonded storage in Hainan for re-export, rather than fuel intended for local use.

A recent policy notice from four Chinese government departments sets out this approach for aviation fuel held in independent bonded storage facilities.

The policy is intended to make trade and logistics in the Hainan Free Trade Port easier.

The company involved said the international testing standards fit its cross-border business and would reduce customs clearance and logistics costs.

The operation adds to Yangpu’s role in bonded fuel storage and distribution, while customs says it will supervise the process and require firms to follow safety rules.

1 source

Related

What people are saying

Company officialCompany representative
The policy meets the needs of companies' cross-border aviation fuel transit business, aligns inspection standards fully with international markets, and greatly reduces customs clearance and logistics costs.
via China News Service